Raymond James Financial Inc. Reduces Stock Holdings in Viking Holdings Ltd. $VIK

Key Points

• Raymond James Financial Inc. reduced its stake in Viking Holdings Ltd. by 36.3%, owning approximately 0.13% of the company, valued at $21.46 million after selling 307,501 shares in the first quarter.
• Despite the stake reduction by Raymond James, several large investors, including Invesco Ltd. and American Century Companies, increased their holdings, indicating ongoing institutional interest in Viking.
• Viking reported earnings of $0.99 per share, missing estimates by $0.01, but saw a revenue growth of 18.5% year-over-year, suggesting positive revenue trends despite slight earnings miss.

Raymond James Financial Inc. cut its stake in shares of Viking Holdings Ltd. (NYSE:VIK - Free Report) by 36.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 539,797 shares of the company's stock after selling 307,501 shares during the period. Raymond James Financial Inc. owned approximately 0.13% of Viking worth $21,457,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VIK. American Century Companies Inc. raised its stake in shares of Viking by 15.1% during the first quarter. American Century Companies Inc. now owns 875,047 shares of the company's stock valued at $34,783,000 after purchasing an additional 114,745 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in Viking by 34.4% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 200,537 shares of the company's stock valued at $7,971,000 after purchasing an additional 51,340 shares in the last quarter. Crestwood Capital Management L.P. increased its stake in Viking by 19.6% during the 1st quarter. Crestwood Capital Management L.P. now owns 426,522 shares of the company's stock worth $16,954,000 after buying an additional 70,000 shares during the period. Invesco Ltd. lifted its holdings in Viking by 57.8% in the 1st quarter. Invesco Ltd. now owns 2,114,166 shares of the company's stock worth $84,038,000 after buying an additional 774,265 shares in the last quarter. Finally, Pinpoint Asset Management Ltd purchased a new position in Viking in the 1st quarter valued at about $596,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Viking Trading Up 2.8%

NYSE:VIK opened at $61.75 on Wednesday. The company has a market cap of $27.36 billion, a PE ratio of 33.38, a P/E/G ratio of 0.71 and a beta of 2.40. The business's 50 day moving average is $56.62 and its two-hundred day moving average is $48.27. The company has a quick ratio of 0.62, a current ratio of 0.64 and a debt-to-equity ratio of 19.33. Viking Holdings Ltd. has a 52 week low of $30.75 and a 52 week high of $61.81.

Viking (NYSE:VIK - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The company reported $0.99 earnings per share for the quarter, missing analysts' consensus estimates of $1.00 by ($0.01). Viking had a net margin of 13.99% and a negative return on equity of 374.71%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm posted $0.89 earnings per share. Viking's revenue was up 18.5% compared to the same quarter last year. On average, analysts predict that Viking Holdings Ltd. will post 1.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Loop Capital reaffirmed a "buy" rating on shares of Viking in a research report on Wednesday, May 21st. Citigroup lifted their price objective on Viking from $57.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Stifel Nicolaus upped their target price on Viking from $50.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. UBS Group raised their price target on shares of Viking from $55.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Finally, Truist Financial lifted their price target on shares of Viking from $50.00 to $55.00 and gave the stock a "hold" rating in a research note on Monday, July 21st. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.20.

Viking Company Profile

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships.

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